The efforts of more than thirty trade and commerce ministers on the issue of coming into conclusion for any viable agreement, eventually, reached onto a complete failure in WTO summit at Geneva. But, it seems, the meeting was doomed since beginning as issues were contentious and no member state wanted to tilt a bit from their stand. Kamal Nath, India’s trade minister commented that it is disappointing.

 

The major contentious issue has been subsidy on agriculture. The US wants developing countries to open up their economies for agricultural imports and along with EU, agreed to cut its farm subsidies, initially. On the other hand, China and India contain that this measure is useless, and would have devastating impact on domestic farmers.

 

Commenting on the failure of talks, EU Trade Commissioner, Peter Mandelson said that it was heartbreaking. Pointing towards the causes of failure he said irresistible forces met an unmovable object. Pascal Lamy, WTO director, however hopeful about the talks said that there would be an agreed point, and arguments from both the sides would be considered and it is too early to reject talks as failure.